Reasonable Expectations???

[TrendlineBreak]

Getting back to the original post, this looks like a professional approach and trading plan.

Phil, Mick, James :

Do you all agree with the poster that 100 pips on average after losses etc is a realistic weekly target.

I would say yes.

[philhackett]

If you email Wes Newman he will send you any technical information you require. Dema is a Double Exponential Moving Average which has been fine tuned.

You can make a good living tading 0800-1200 GMT. I trade 12 hours to catch moves you will miss.

I monitor the four majors all the time and will trade whichever is tradable. To do this you need at least three screens. After 1600hrs GMT I keep alarms on the Ozzie, Kiwi and Canadian pairs because americans like them and therefore there are some very good trades later in the day.

You need to know;
Is the market Range Bound or is it trending.
If it is within Keltner it is Range Bound. Scalp it when it moves out of a 20 pip wide KC and trade the reversal for 10-20 pips usually.

If the candles move out of KC, is the market trending? DEMA confirms this, albeit sometimes for relatively short periods, like today, when the move lasted 45 minutes.

If you do not want to try this system for yourself, do not ask me for any more help. It works for a lot of wealthy successful traders.

[philhackett]

Dealbook is where the indicators are that I use. If you want to use them, that is where you must go, Free!

I am a professional trying to save amateurs from themselves, you are not. My system is used by MANY floor traders. Get the message?

[MickMason]

Originally posted by philhackett


1) Either be an engineer or an oily rag. You choose. Best to get trained as do Plumbers Doctors Lawyers etc. This is not a business for amateurs, hence so many heavy losers.

Absolutely, that's the importance of looking at all aspects of profitable trading. Just looking for a system to predict market direction and ignoring everything else is the major reason 90% lose. I forget the exact figures now but in a university study around 100 traders were given exactly the same profitable system to trade, only 10 made any money.


2) Keltner Channels, 5 SMA are essential. Dema is the best available.
3) 50 MA gives an idea of where the day is going.
4) Floor Traders use Pivots; you should too.

I don't use any of the indicators you mentioned yet I still make money. Your system may suit you, none of those indicators are essential though, there are hundreds of profitable systems out there using a wide range of indicators.


5) Dealbook can be trialed free, for a month. You can then set up my indicators and see for yourself. This morning it produced 25 pips in a very quiet market.

25 pips from this morning's market is nothing to shout about really, there are systems that made more and systems that made less, your results are mediocre at best.



If you cannot appreciate the significance of my system, you shouild not be trading. I have not loast money for years!

lol, of course, yours is the only profitable system out there, and after all you're a qualified technical analyst!

Mick

[MickMason]

Originally posted by TrendlineBreak
Getting back to the original post, this looks like a professional approach and trading plan.

Phil, Mick, James :

Do you all agree with the poster that 100 pips on average after losses etc is a realistic weekly target.

I would say yes.

I would too, 100 pips per week trading one pair is perfectly achievable, even for a relative novice.

Mick

[amarnath]

Hi philhackett,

If your system is very good can you prove it with some proof like live calls from it . Just Newbies ( for your system ) so that 90% ( losers ) can learn along that thread to observe how professional are trading with a nice system and to remain profitable .

you can do it if your system really remains profitable over years . Beacuse i am serious to learn such sound system as one you have


And if above thing is not possible can you post some backtested reports based on your system to see how well it performed in past .

[James]

Originally posted by TrendlineBreak
Getting back to the original post, this looks like a professional approach and trading plan.

Phil, Mick, James :

Do you all agree with the poster that 100 pips on average after losses etc is a realistic weekly target.

I would say yes.

No I do not. Especially not for a novice.

[MickMason]

amarnath your message box says it's full up and needs emptying!

James, I'm surprised at you, 100pips a week trading intraday and you think that's not possible

I'd run a poll if I thought there would be any honest votes, I'd be very surprised if profitable traders are taking any less then 40 pips, per day, per pair. Even the very simple and basic 17/13 netts more than that!

Mick